Sterling Infrastructure, Inc. $STRL Shares Purchased by BIP Wealth LLC

BIP Wealth LLC boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 8.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,301 shares of the construction company’s stock after buying an additional 3,934 shares during the period. Sterling Infrastructure makes up approximately 0.6% of BIP Wealth LLC’s portfolio, making the stock its 27th largest holding. BIP Wealth LLC’s holdings in Sterling Infrastructure were worth $16,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of STRL. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure in the 2nd quarter worth $26,000. Root Financial Partners LLC acquired a new position in shares of Sterling Infrastructure during the third quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Sterling Infrastructure during the third quarter worth about $28,000. Ameritas Advisory Services LLC acquired a new stake in Sterling Infrastructure in the second quarter valued at about $29,000. Finally, Bessemer Group Inc. lifted its position in Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock valued at $29,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 3.7%

NASDAQ:STRL opened at $362.53 on Thursday. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $419.14. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $323.55 and a 200-day simple moving average of $317.13. The company has a market capitalization of $11.14 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.69. The firm had revenue of $689.02 million during the quarter, compared to the consensus estimate of $618.80 million. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. On average, equities research analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its board has authorized a share buyback program on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Sterling Infrastructure

In related news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the completion of the transaction, the director directly owned 14,749 shares in the company, valued at $5,162,150. The trade was a 16.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STRL has been the topic of several recent analyst reports. Weiss Ratings cut Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. DA Davidson lifted their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sterling Infrastructure presently has a consensus rating of “Hold” and an average target price of $460.00.

About Sterling Infrastructure

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.